OAK PARK, MI, June 11 /CNW/ - Azure Dynamics Corporation (TSX: AZD) -
("Azure") or (the "Company"), a leading developer of state-of-the-art green
technologies that address environmental and cost issues for the commercial
transportation industry, today announced an initial order for fifteen
Balance(TM) Hybrid Electric shuttle buses from Metro Mobility in Minnesota.
Metro Mobility is a public transit service of the Metropolitan Council and
provides door-through-door ADA paratransit service in the Minneapolis/St. Paul
region. The buses will be delivered in the fourth quarter of 2009.
Jay Sandler, Azure's Vice President of Sales, commented, "The Metro
Mobility buses represent another victory for our channel distribution
strategy. By partnering with Hoglund Bus, a commercial vehicle distributor in
Monticello, Minnesota, and Turtle Top Bus, a specialty vehicle manufacturer in
New Paris, Indiana, we were able to submit a comprehensive bid that ultimately
earned the Metro Mobility contract. In turn, the buses we provide Metro
Mobility will help the organization lower its operating costs, substantially
reduce greenhouse emissions and provide reliable transportation for residents
in the Twin Cities region."
The purchase of Azure's hybrid drive train is a result of the Twin Cities
Metropolitan Council's stated goal to increase usage of green technologies in
the region. The contract covering this order remains open should other
Minnesota entities desire to add Azure products to their portfolios.
"Earning the Metro Mobility business represents a great first step for
our partnership with Azure and Turtle Top," said Scott Gretsch, Commercial
Vehicle Sales at Hoglund Bus. "Increasingly, our customers are expressing
interest in hybrid transportation solutions that are environmentally friendly
and cost effective. We're thrilled to support Metro Mobility in its important
mission of providing transportation services to area residents."
The Azure Balance(TM) Hybrid Electric system specified by Metro Mobility
has unique attributes like engine-off at idle and at below 20 miles per hour,
while electronically supporting key ancillary functions like air conditioning,
power steering and braking. The drive train, with a Ford 5.4L engine, can
improve fuel economy substantially, while reducing carbon emissions by up to
30% in city conditions. The hybrid drive train also offers a significant
reduction in maintenance costs versus conventionally equipped competitors.
About Hoglund Bus and Truck
Over the past 60 years, with a commitment to customer satisfaction,
Hoglund Bus and Truck has evolved as a leader in the transportation industry.
Their two locations, Monticello, MN. and Marshalltown, IA, carry extensive
inventories of new and used school buses, commercial buses, medium duty
trucks, and related parts and services. Additional information is available
site at www.hoglundbusandtruck.com.
About Azure Dynamics
Azure Dynamics Corporation (TSX: AZD) is a world leader in the
development and production of hybrid electric and electric components and
powertrain systems for commercial vehicles. Azure is strategically targeting
the commercial delivery vehicle and shuttle bus markets and is currently
working internationally with various partners and customers. The Company is
committed to providing customers and partners with innovative, cost-efficient,
and environmentally-friendly energy management solutions. For more information
please visit www.azuredynamics.com.
The TSX Exchange does not accept responsibility for the adequacy or
accuracy of this release.
This press release contains forward-looking statements. More
particularly, this press release contains statements concerning Azure's
business development strategy, projected commercial revenues and product
The forward-looking statements are based on certain key expectations and
assumptions made by Azure, including expectations and assumptions concerning
achievement of current timetables for development programs, target market
acceptance of Azure's products, current and new product performance,
availability and cost of labour and expertise, and evolving markets for power
for transportation vehicles. Although Azure believes that the expectations and
assumptions on which the forward-looking statements are based are reasonable,
undue reliance should not be placed on the forward-looking statements because
Azure can give no assurance that they will prove to be correct. Since
forward-looking statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Actual results could
differ materially from those currently anticipated due to a number of factors
and risks. These include, but are not limited to, the risks associated with
Azure's early stage of development, lack of product revenues and history of
losses, requirements for additional financing, uncertainty as to commercial
viability, uncertainty as to product development and commercialization
milestones being met, uncertainty as to the market for Azure's products and
unproven acceptance of Azure's technology, competition for capital, product
market and personnel, uncertainty as to target markets, dependence upon third
parties, changes in environmental laws or policies, uncertainty as to patent
and proprietary rights, availability of management and key personnel, and
acquisition integration risk. These risks are set out in more detail in
Azure's annual information form which can be accessed at www.sedar.com.
The forward-looking statements contained in this press release are made
as of the date hereof and Azure undertakes no obligation to update publicly or
revise any forward-looking statements or information, whether as a result of
new information, future events or otherwise, unless so required by applicable
For further information:
For further information: Mike Elwood, Vice President-Marketing, (905)
607-3486 x203, Email: firstname.lastname@example.org; Jay Sandler - Vice President
- Sales, (248) 298-2403 ext 1205, Email: email@example.com; Patrick
Liebler, Liebler Group, (248) 229-4418, Email: firstname.lastname@example.org